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Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It continues to this day as the effects of the disaster ripple through local communities and the shipping industry.
As most of us are aware, Vale is the world’s largest producer of iron ore, and runs several deep-draft ports in Brazil as well as Indonesia, Malaysia and Oman, equipped to receive Valemax ships, the biggest mineral vessels in the world, with capacity for 400,000 tonnes of ore. The company charters Capesizes and Very Large Ore Carriers (VLOCs) and its fleet primarily services the Asian energy needs.
This is actually the second dam collapse incident Vale saw in less than four years. Back in 2015 a larger dam, Samarco Mineracao SA, a joint venture between Vale and BHP, collapsed claiming the lives of 19 people and creating a major environmental disaster. So coming just a few years after a similar disaster in the same state, the Brumadinho collapse enraged many in Brazil, particularly when everyone found out that Vale had earlier received warnings about its fragile state.
The crisis at Vale is already rippling worldwide with strong effects on the iron ore markets and the Capesize segment. The price of iron ore last week surpassed $90 a tonne amid concerns that the closure of Vale’s dams could provoke a supply crunch. The company itself said it would sell a maximum of 330m tonnes of the raw material this year. Last year Vale produced 380m tonnes.
Tailings dams are cheap and obviously risky. The upstream sort have been banned in Chile and are very rare in America and Europe. Their widespread use in Brazil is one way the government helps mining firms. Miners such as Vale in particular, are obviously favoured because they often shoulder the responsibilities of governments in remote places, building schools and hospitals, for example. In Minas Gerais (literally, “General Mines”), the state where Brumadinho is located, Vale often dominates local economies as we can all understand.
This disaster weighed heavily on the market for big Capes, with still a lot of uncertainty about shipments/future exports leading to a sharp drop in rates. The miners had largely been absent from the market recently, with just a handful of other player in the region with large iron ore cargoes to move. Rates are expected to still experience a significant pressure moving forward. It is quite a unique situation and it is interesting to see it’s future dynamics in the Capesize sector.
By Christopher Whitty
Director, Towage and Port Agency Division
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 13 October 14
INDONESIAN COAL SWAPS FOR DELIVERY Q4' 2014 GAINED WEEK ON WEEK AND DAY ON DAY
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 gained week on week and day on day.
The swap lost US$ 0.13 (-0.25%) month on mon ...
Monday, 13 October 14
Q1' 2015 CFR SOUTH CHINA COAL SWAP CLOSED US$ 0.31 PMT HIGHER THAN Q4' 2014 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 0.66 (-1.00%) month over month and US$ 0.40 (-0.61%) ...
Sunday, 12 October 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE WEAK - VISTAAR
COALspot.com: This week all the segments softened. The BDI down 7.13 pct week on week and closed below 1000 points at 963 points.
The Cape ind ...
Saturday, 11 October 14
COAL PRODUCTION RISES ONLY SLIGHTLY AS GOVT LIMITS MINING OPERATIONS - THE JAKARTA POST
Indonesian coal production rose by only 4 percent in the first nine months of this year, a relatively low increase compared to previous years, as t ...
Friday, 10 October 14
INDONESIA TO DEVELOP DOWNSTREAM COAL INDUSTRY - JP
The government is planning to launch a program to develop the downstream coal industry to increase the commodity’s added value, an official h ...
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- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Australian Coal Association
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
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